Local Content Development’ll Reduce Cost Of Construction

Local Content Development’ll Reduce Cost Of Construction

Otunba Bode Ashogbon is the Chairman and Managing Director of Royal Datford Investment Limited, a real estate firm. In this interview with MAUREEN IHUA-MADUENYI, he says Nigeria’s housing problem can only be solved through partnership between the government and the private sector

How has the business environment been for you as developer?

It has been challenging but everything is about planning.While in the service of Lagos State Government, I already had the intention to leave service at the age of 50. Fortunately, I am someone who has had interest in business since I was young and even in service, the salary was not enough, so I was always looking for businesses to augment my salary. Then, I would buy land for N350,000 and wait for it to appreciate to about N400,000 or N450,000 and sell.

So, I actually planned leaving the service and fortunately I left before the year I projected to leave. I left at almost 47 years. I know when you leave paid employment for business, it can be challenging so I prepared; it is not as if I had a lot of money saved but I prepared. So, it is challenging but not unbearable.

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